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FBN’s Gerri Willis on what’s really in Rep. Paul Ryan’s Medicare plan and the plan’s potential costs.
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Well they say there are two kinds of statistics.
The kind you look up and the kind you make up.
The Democrats these days are using the latter when they talk about Paul Ryan's plans for Medicare last week they were describing him as destroying health care for seniors.
Here's their view.
-- Right now President Obama is attacking Paul Ryan's Medicare reform saying it could cost seniors 6400.
Dollars a year more for health care.
Here's the president this.
It was estimated that governor Romney's -- America's original plan would force seniors to pay an extra 6400 dollars a year.
But -- -- street journal said this morning on the the president's claim is based on a Congressional Budget Office estimate of the gap.
Between the cost of health care a decade from now on 20/20 two.
And -- -- the house budgets premium support subsidy for a typical 65 year old in 20/20 two.
Bring -- support -- the out of pocket costs -- senior might face but guess what.
This report is old.
In the meantime -- has re written -- planned changes assumptions.
Made the plan more moderate.
In a more up to date report the CBO says it doesn't really have the capability to estimate the plant.
No kidding.
Estimated the cost -- a nearly impossible task because Ryan's plan would introduce a wild card the free market.
Seniors would have the option of choosing private insurers to carry their health coverage this will certainly would drive costs lower.
How do we know well that's exactly what happened in Medicare Advantage the drug plan the president George W.
Bush put in place costs dropped.
I can't -- price -- the shoddy analysis though it's all happened before.
When obamacare was being crafted proponents said Medicare should benefit the caution drop from productivity gains in the health care industry that would naturally occur over time.
The Centers for Medicare & Medicaid Services recently said.
Because health care costs are dominated by labor costs specialists doctors nurses you have to pay.
It's hard to get the kinds of productivity gains that you get say on the shop room floor go back to become 101 gentlemen it's all right there.
Hospital productivity is increased in recent years by reading the report now by zero point 4% and by negligible levels on average up over longer periods.
That's from the federal government.
This is just a small example the kinds of magical thinking that occurs in Washington where people are focused on.
Bureaucratic solutions but have no experience with the private sector.
And -- by the way -- also projects that by 2016 obamacare.
Will result in 15% of all health care institutions.
I'm talking hospitals nursing facilities and -- like becoming unprofitable.
By 2030 that proportion reaches 25%.
By 2050.
It's 40% can you imagine that.
And that's my friends are the kinds of statistics you look up not the one you make.
